As stated previously, the stall warning system shuts down below a certain IAS... cannot recall exactly, but 80kts or so. So one factor which I believe contributed to the confusion in that cockpit was that when they made the moves to reduce AoA and increase airspeed, the stall warnings would activate as the plane accelerated past 80kts (or whatever the stall system cutoff is). They then reasoned that whatever they had just done put them into a stall, and reversed their control inputs to make the situation worse.
Early to speculate, but let's keep our eye on this stall warning inactivation/activation speed as a potential factor in Air Asia.